INR Edges Higher On Positive Cues From Local Equities

Published on Feb 16, 2024 16:58

The Indian rupee rose 4 paise to settle at 83.01 (provisional) against the US dollar on Friday, amid positive sentiment in the domestic equity markets and softening crude oil prices. The benchmark S&P BSE Sensex ended the session up 376.26 points, or 0.52 percent, at 72,426.64, mirroring gains in the global markets. The broader NSE Nifty index settled 129.95 points, or 0.59 percent, higher at 22,040.70, with auto stocks leading the surge. Meanwhile, a strong American currency and outflow of foreign funds capped a sharp gain in the domestic currency. The dollar index continues to hover above 104 mark although it rebounded from overnight sharp drop. At the interbank foreign exchange market, the local unit opened at 83.03 and touched the intraday high of 83.00 against the greenback.